by our College Data Analytics TeamThe total cost of attendance at Musicians Institute can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from Musicians Institute.
$3,609.00 is the typical Musicians Institute’s first year financial aid package. 58% of reshman students get financial aid, most of which is in the form of loans
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at Musicians Institute.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The following numbers apply to scholarships and grants largely offered by the school itself.
32% of incoming freshmen (36 total) were given scholarships at Musicians Institute, averaging $1,887.00 per student. This puts it in the bottom 50th percentile among colleges and universities nationwide.
As well as scholarships, 30% of freshmen (34 total) obtained a federal grant, for about $4,053.00 a piece.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 25.66% | $5,006.00 |
| Income 30k-48k | 7.08% | $3,908.00 |
| Income 48k-75k | 0.88% | $1,250.00 |
| Income 75k-110k | 0.00% | $0.00 |
| Income 110k + | 9.73% | $903.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 113 undergraduate students at Musicians Institute around 58% (57 total) receive some form of grant aid. The typical amount awarded was $3,609.00.The largest share of which are in the guise of Pell Grants.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.